Boeing to Have 1% Stake in Public Virgin Galactic
October 08 2019 - 11:55AM
Dow Jones News
By Colin Kellaher
Boeing Co. (BA) will have a roughly 1% stake in Virgin Galactic
in return for its $20 million investment in Richard Branson's
space-tourism venture.
The investment equates to roughly 1.94 million shares of VGH
Inc., the entity being formed by the merger of Virgin Galactic and
special-purpose acquisition company Social Capital Hedosophia
Holdings Corp. (IPOA), according to a Social Capital filing with
the Securities and Exchange Commission.
Boeing on Tuesday said it plans to work with Virgin Galactic to
broaden commercial space access and transform global travel
technologies as part of the investment, which it is making through
its HorizonX venture-capital arm.
Boeing will have the right to have a representative attend all
VGH board meetings, according to the filing.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 08, 2019 11:40 ET (15:40 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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